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You have decided to buy a car that costs $23,400. Since you do not have a big down payment, the lender offers you a loan

You have decided to buy a car that costs $23,400. Since you do not have a big down payment, the lender offers you a loan with an APR of 5.89 percent compounded monthly for 6 years with the first monthly payment due today. What is the amount of your loan payment?

A. $360.04

B. $386.59

C.$271.74

D. $270.41

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